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Global Smart Lock Market 2017 To 2021

Published on: May 2017 | From USD $3500 | Published By: INFINITI RESEARCH | Number Of Pages: 70

Smart locks are devices that integrate sensors and integrated circuits (ICs) designed to lock and unlock doors and systems through signals received from an authorized device in the form of a digital key. The increase in the popularity of smart locks over the last few years can be attributed to the number of emerging smart homes with technologically advanced home appliances and infrastructure. The most promising offerings among these are security cameras and smart locks. The growing automation in homes and monitoring of premises in developed regions has resulted in the growth of the smart lock market.

MIR analysts forecast the global Smart Lock market to grow at a CAGR of 80.6% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global smart lock market for 2017-2021. To calculate the market size, the report considers the total shipments of smart locks to customers worldwide.

The market is divided into the following segments based on geography:
• Americas

MIR report, Global Smart Lock Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
• August Home
• Candy House
• Kwikset
• Goji
• Lockitron
• Poly-Control
• Schlage
• Unikey Technologies
• Yale

Market driver
• Benefits of smart locks over traditional locks
• For a full, detailed list, view our report

Market challenge
• Low price of digital door locks
• For a full, detailed list, view our report

Market trend
• Growth of IoT market
• For a full, detailed list, view our report

Key questions answered in this report
• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

MIR recognizes the following companies as the key players in the global smart lock market: August Home, Candy House, Kwikset, Goji, Lockitron, OKIDOKEYS, HAVEN, Poly-Control, KISI, Schlage, Unikey Technologies, and Yale

Commenting on the report, an analyst from MIR team said: “The latest trend gaining momentum in the market is growth of IoT market. IoT has revolutionized traditional hardware functionalities including traditional locks. The technology enables users to monitor their premises in case of any forced entry or break-ins by alerting them through a text message. It also provides pictures of the broken lock and the intruder. Smart locks are an integrated part of IoT, where users are able to secure their premises using technology. The growing market for IoT across the globe due to the rise in digitalization will drive the market for technologically compatible smart locks.”

According to the report, one of the major drivers for this market is benefits of smart locks over traditional locks. Smart locks are more convenient than traditional locks. As the smart locks are paired with the smartphones or smartwatches, the users do not have to carry the keys. The automatic locking and opening system is activated through smartphones or smart watches. Another major advantage of smart locks is the implementation of security standards. These locks can provide exclusive access only to authorized people.

Further, the report states that one of the major factors hindering the growth of this market is low price of digital door locks. As of 2017, digital locks are the most popular option for door locking. In digital locks, the user can lock the door using a number code or fingerprint. Low ASP of digital locks as compared to smart locks is one of the major reasons for the predominance of digital locks in the market . Countries like India and China are adopting digital locks in residential construction due to their low price. In addition, the presence of vendors such as Samsung has increased the popularity of digital locks, which again negatively affects the adoption of smart locks.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
• Market outline
• Connected devices market outlook
• Smart home market outlook
PART 05: Market landscape
• Market overview
• Market size and forecast
• Five forces analysis
PART 06: Market segmentation by end-user
• Market overview
PART 07: Geographical segmentation
• Market overview
• Smart lock market in Americas
• Smart lock market in EMEA
• Smart lock market in APAC
PART 08: Decision framework
PART 09: Drivers and challenges
• Market drivers
• Market challenges
PART 10: Market trends
• Growth of IoT market
• Change in consumer behavior
• Growing demand for smart homes and the development of smart cities
• Voice recognition based smart locks
PART 11: Vendor landscape
• Competitive scenario
PART 12: Appendix
• List of abbreviations
List of Exhibits
Exhibit 01: Smart locks contribution to connected devices market 2016
Exhibit 02: Smart home Value chain
Exhibit 03: Trends in home security systems
Exhibit 04: Smart home services
Exhibit 05: Overview of global smart lock market
Exhibit 06: Global smart lock market ($ billions)
Exhibit 07: ASP of smart locks 2016-2021 ($)
Exhibit 08: Five forces analysis
Exhibit 09: Global smart lock market by end-user 2016-2021 (% share of revenue)
Exhibit 10: Global smart lock market by end-user 2016-2021 ($ billions)
Exhibit 11: Global smart lock market by geography 2016-2021 (% share of revenue)
Exhibit 12: Global smart lock market by geography 2016-2021 ($ billions)
Exhibit 13: Smart lock market in Americas 2016-2021 ($ billions)
Exhibit 14: Smart lock market in EMEA 2016-2021 ($ billions)
Exhibit 15: Smart lock market in APAC ($ billions)
Exhibit 16: Global smartphone market 2016-2021 (units in millions)
Exhibit 17: ASP comparison of digital locks and smart locks 2017 ($)
Exhibit 18: Reasons behind changing consumer behavior
Exhibit 19: Global smart home market 2016-2021 ($ billions)
Exhibit 20: Smart home penetration regional share 2016-2021
Exhibit 21: August Home: Recent developments
Exhibit 22: Kwikset: Recent developments
Exhibit 23: OKIDOKEYS: Recent developments
Exhibit 24: OKIDOKEYS: Recent developments
Exhibit 25: Yale: Recent developments

Companies Mentioned are -August Home, Candy House, Kwikset, Goji, Lockitron, OKIDOKEYS, HAVEN, Poly-Control, KISI, Schlage, Unikey Technologies, and Yale.

Research Methodology- Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.

Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

The market engineered data is verified and validated by a number of experts, both in-house and external.

After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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